Finances & Deals: Page 10
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Courtesy of United Natural Foods, Inc.
UNFI posts sales increase in Q1, links automation plans to growth
The grocery wholesaler and retailer brought in net sales of $7.5 billion during the quarter, a 7.6% year-over-year increase due largely to inflation and new business.
By Sam Silverstein • Dec. 7, 2022 -
Scott Olson via Getty Images
Kroger gets FTC request for more details on Albertsons merger
The federal agency’s call for more information extends the waiting period for the grocers as they undergo the regulatory review process.
By Catherine Douglas Moran • Dec. 6, 2022 -
Courtesy of Kroger
Here’s what to know about the Kroger-Albertsons merger
The deal could form a formidable new industry competitor, but it’s facing considerable pushback as a potentially bruising regulatory review looms.
By Jeff Wells • Dec. 5, 2022 -
Courtesy of Kroger
Kroger-Albertsons mergerKroger and Albertsons defend planned merger at Senate hearing
The grocers do not intend to close any of the supermarkets they operate if the deal receives regulatory clearance, the companies’ chief executives told lawmakers on Tuesday.
By Sam Silverstein • Nov. 30, 2022 -
Courtesy of Boxed
Boxed flirts with NYSE delisting after stock price skids
The online retailer has received a warning from the New York Stock Exchange that it is not in compliance with listing requirements because its average market capitalization during a recent 30-day period was below $50 million.
By Sam Silverstein • Nov. 29, 2022 -
Courtesy of Southeastern Grocers
Southeastern Grocers exploring sale, WSJ reports
The news, attributed to sources familiar with the matter, comes about a year after the company ended its bid to go public.
By Jeff Wells • Nov. 17, 2022 -
Thai Phi Le/Grocery Dive
Kroger-Albertsons mergerHow the Kroger-Albertsons merger could transform 5 key grocery markets
The two food retailers each have a strong presence in dozens of markets with unique characteristics, underscoring the complexity of sizing up a national deal in a hyperlocal industry.
By Sam Silverstein , Peyton Bigora • Nov. 17, 2022 -
Mario Tama via Getty Images
Postponement of Albertsons’ $4B dividend extended to December
The legal battle over whether the grocer can make the shareholder payout now goes to a hearing early next month, and the payment remains blocked until then.
By Catherine Douglas Moran • Nov. 17, 2022 -
Courtesy of Target
Target’s profits tumble again, casting a shadow over the holidays
Another disappointing quarter points to pressures on consumers, but some analysts also took the retailer to task for its performance.
By Ben Unglesbee • Nov. 16, 2022 -
Daphne Howland/Grocery Dive
Walmart’s strong Q3 powered by grocery
The retailer, which recorded increases to its U.S. grocery sales and unit growth, has continued to gain market share in food and beverage from households across income demographics, executives told investors Tuesday.
By Dani James , Catherine Douglas Moran • Nov. 15, 2022 -
Courtesy of Albertsons
Albertsons notches win in fight over $4B dividend
A federal district court has denied a restraining order request by the attorneys general of California, Illinois and Washington, D.C., against the grocery company’s investor payout, which was originally slated for Nov. 7.
By Catherine Douglas Moran • Nov. 9, 2022 -
Courtesy of Sprouts Farmers Market
Sprouts edges forward in Q3, with deli leading the way
The specialty retailer posted comparable-store sales growth of 2.4% during the period compared with the third quarter of 2021, while e-commerce sales rose 19%.
By Sam Silverstein • Nov. 9, 2022 -
Jessica Dumont/Grocery Dive
Grocery Outlet names new CEO
President RJ Sheedy will take on the top role as Eric Lindberg transitions to chairman of the discounter’s board.
By Catherine Douglas Moran • Nov. 8, 2022 -
SeventyFour via Getty Images
5 consumer spending trends this Thanksgiving
Shoppers are prepared to go extra lengths to save, yet are still willing to pay more to ensure turkey makes it to the table and holiday celebrations can occur in pre-pandemic style.
By Peyton Bigora • Nov. 8, 2022 -
Michael M. Santiago/Getty Images via Getty Images
DoorDash reports significant growth in its grocery, convenience businesses
In its third-quarter earnings, the company said the number of its U.S. consumers who have ordered from a grocery store has more than doubled in the past year.
By Catherine Douglas Moran • Nov. 4, 2022 -
Courtesy of Albertsons
State AGs sue to stop Albertsons’ $4B dividend
The payout would weaken the grocer as it looks to merge with Kroger, officials of California, Illinois, Washington and Washington, D.C., claimed in a pair of lawsuits.
By Sam Silverstein • Nov. 3, 2022 -
Courtesy of Albertsons
Albertsons defends $4B dividend amid opposition from attorneys general
The grocer is looking to ward off concerns that the dividend, which is set for Nov. 7, would reward investors while weakening Albertsons’ financial health.
By Catherine Douglas Moran • Oct. 27, 2022 -
Courtesy of Walmart
5 Walmart suppliers team up on renewable energy buy
Levi Strauss, J.M. Smucker and three others completed the first aggregated purchase power agreement under the retailer’s Project Gigaton, which encourages vendors to reduce their greenhouse gas emissions.
By Sarah Zimmerman • Oct. 26, 2022 -
Courtesy of Trigo
Trigo nets $100M as it eyes ‘full-sized’ supermarkets
The Israeli frictionless checkout startup company plans to use the new funding in part to scale its computer vision-based technology for use in larger retail locations than it currently supports.
By Sam Silverstein • Oct. 26, 2022 -
Courtesy of Albertsons
Deep Dive // Kroger-Albertsons mergerWill the Kroger-Albertsons deal get past regulators?
Success will depend on how the FTC defines competition and whether the companies can satisfy the agency’s increasingly intense scrutiny of store divestitures, experts say.
By Jeff Wells • Oct. 20, 2022 -
Brendan Hoffman via Getty Images
Kroger-Albertsons mergerSenate antitrust panel to focus on Kroger-Albertsons merger
The bipartisan hearing, which was organized by Sens. Amy Klobuchar and Mike Lee, will take place in November and will add more scrutiny to the $24.6 billion deal.
By Catherine Douglas Moran • Oct. 19, 2022 -
Courtesy of Kroger
Kroger-Albertsons mergerHow would the Kroger-Albertsons merger impact independent grocers?
The National Grocers Association fears a second “power buyer” would enter the industry, further tipping the scales for suppliers and independent grocers trying to compete.
By Peyton Bigora • Oct. 17, 2022 -
Courtesy of Instacart
Instacart reportedly cuts valuation again, to $13B
This marks the third time this year the company has slashed its valuation, Bloomberg and The Information reported, after lowering it to $24 billion in March and then to $15 billion in July.
By Catherine Douglas Moran • Oct. 17, 2022 -
Courtesy of Kroger
Column // Kroger-Albertsons mergerPardon the Disruption: The digital forces driving the Kroger-Albertsons merger
The $24.6 billion deal is as much about boosting scale in data, retail media and e-commerce as it is about expanding stores and facilities.
By Jeff Wells • Oct. 17, 2022 -
Courtesy of Kroger
Kroger-Albertsons mergerKroger to buy Albertsons in $24.6 billion deal
The companies expect the deal to close in early 2024 and plan to sell between 100 and 375 stores to satisfy regulatory requirements.
By Sam Silverstein , Jeff Wells • Oct. 14, 2022
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